Company Update in Nepal is a mandatory annual compliance requirement for all registered companies under the Office of the Company Registrar (OCR). Every Private Limited and Public Limited company must submit updated company details within the prescribed timeline to remain legally compliant.
Failure to file a company update on time can result in heavy penalties, company suspension, or restrictions on future business activities. This article explains everything you need to know about company update in Nepal, including process, documents, deadlines, penalties, and FAQs.
What Is a Company Update in Nepal?
A Company Update is an annual filing requirement where a company must submit its updated legal, management, and ownership details to the Office of Company Registrar (OCR).
Meaning of Company Update as per Office of Company Registrar (OCR)
As per the Companies Act, 2063, every registered company must annually update the OCR with:
Shareholder details
Director details
Registered office address
Capital structure
Changes made during the fiscal year
This ensures transparency and accuracy in the government’s company database.
Legal Importance of Annual Company Update in Nepal
Filing a company update:
Keeps the company active and compliant
Avoids penalties and blacklisting
Is required for bank loans, tenders, audits, and tax filings
Maintains the company’s legal credibility
Company Update Requirement in Nepal (As per Companies Act)
Company update is not optional. It is compulsory for all companies registered in Nepal.
Mandatory Company Update Timeline in Nepal
A company must file its update:
Within 6 months from the end of the fiscal year
Usually by Poush end for most companies following the Nepali fiscal year
Applicable Companies for Company Update
Company update is mandatory for:
Private Limited Companies
Public Limited Companies
Non-profit Companies (if applicable)
Even inactive companies must submit updates unless formally liquidated.
Company Update Deadline and Penalties in Nepal
If the company fails to update within the six months after the completion of fiscal year (Poush end):
Late fees are charged
Continuous default may lead to company suspension
Documents Required for Company Update in Nepal
The following documents and information are required to complete a company update:
Shareholder Details Update
Name of shareholders
Citizenship / ID details
Shareholding percentage
Any changes in ownership
Director Details and Changes
Director names and addresses
Appointment or resignation details
Director tenure updates
Registered Office Address Update
Current registered office address
Change in address (if any)
Contact details of the company
Capital Structure and Shareholding Information
Authorized capital
Issued capital
Paid-up capital
Changes during the fiscal year
Online Company Update Process in Nepal
Company update filing is done online through the OCR portal.
Company Update Through OCR Online Portal
The Office of Company Registrar has made company update filing digital to simplify compliance.
Step-by-Step Company Update Filing Process
Login to OCR company portal
Select the company update option
Enter updated company details
Upload required information
Submit the update online
Pay applicable government fees
Common Errors While Filing Company Update Online
Incorrect shareholding percentages
Mismatch in director details
Missing previous year updates
Failure to save or submit properly
These errors may lead to rejection or penalties.
Late Company Update Penalty in Nepal
Late filing of company updates attracts financial penalties.
Fine Structure for Delayed Company Update
Penalties increase based on:
Number of years delayed
Company size and capital
Duration of non-compliance
Consequences of Non-Compliance with OCR
If company updates are not filed:
Company may be marked defaulted
Cannot amend company details
Issues in bank, tax, and legal matters
Possible company suspension
How to Regularize Overdue Company Updates
Overdue updates can be regularized by:
Filing all pending years’ updates
Paying accumulated penalties
Correcting historical company records
Company Update vs Annual Return in Nepal
Many business owners confuse company update with annual return.
Key Differences Between Company Update and Annual Filing
Company Update | Annual Return |
|---|---|
Filed at OCR | Filed at IRD |
Legal & structural details | Tax & income details |
Mandatory every year | Mandatory for tax purposes |
Which Filing Is Mandatory and When?
Both filings are mandatory and serve different legal purposes.
Company Update Services in Nepal
Due to technical and legal complexity, many businesses outsource company update services.
Professional Company Update Service for Private Limited Companies
Professional services ensure:
Accurate filing
Timely submission
Error-free documentation
Penalty avoidance
Why Outsource Company Update to Experts in Nepal
Saves time
Avoids costly mistakes
Ensures compliance with latest OCR rules
Ideal for startups and SMEs
Cost of Company Update Service in Nepal
Service fees depend on:
Number of years pending
Company size
Complexity of updates
Frequently Asked Questions on Company Update in Nepal
Is Company Update Mandatory Every Year in Nepal?
Yes. Every registered company must file a company update annually.
What Happens If Company Update Is Not Filed?
Failure results in:
Late penalties
Company default status
Legal and financial complications
Can Company Update Be Filed Without Audit Report?
Yes. Audit reports are not mandatory for company update filing, but are required for tax purposes.
Conclusion: Importance of Timely Company Update in Nepal
Company update is a critical legal obligation for all companies operating in Nepal. Timely filing helps maintain legal standing, avoid penalties, and ensure smooth business operations.
Stay Compliant with Office of Company Registrar (OCR)
Regular compliance reflects professionalism and strengthens business credibility.
Get Professional Help for Company Update Filing
If you are unsure about filing procedures or have pending updates, professional assistance can help you stay compliant and penalty-free.
If you’re an entrepreneur looking to update your business in Office of Company Registrar or need guidance at any step, Estartup Nepal is here to help. From company registration to business consulting, we make the process simple, stress-free, and fully compliant. Have questions or facing any issues? Feel free to reach out—our team is always ready to support you.